Want to buy a short sale?

A short sale means the homeowner's lender agrees to receive a reduced sum to release a mortgage.

Purchasing a short sale in Port St Lucie, Florida on your own is risky. Contact FEDEN Healthcare Education Institute for expert advice.

Can I get a bargain on a short sale?

Occasionally. Most people hear the words "short sale" and routinely think of a seller that is in financial trouble and needs to sell their house fast to avert further financial problems. This is sometimes the case and can be an opportunity for a buyer to make the most of another's misfortune. On the other hand, a lender may consider a short sale even if the seller is current with their mortgage, but property values have depreciated. In cases such as these the reduced price may in fact be in line with current market values rather than below.

How do I buy a short sale?
  • Always do your research before making any offers. Using a knowledgeable real estate professional from FEDEN Healthcare Education Institute to assist you with researching a property can help you make educated decisions. We can help find out to whom the property is titled, the balance still owed to the lender, and whether or not a foreclosure notice has been filed. Getting this information can help you make a decision about how much to offer.
  • Get a real estate agent with short sale experience. The real estate agents at FEDEN Healthcare Education Institute can assist you in expediting the transaction and make certain you're protected. Don't allow inexperience to hold up the closing process. Put our experience and knowledge to work in your favor.

  • Even with an experienced real estate agent and under the best of situations, buying a short sale property will probably take longer than a typical real estate transaction. Be aware that most short sales will not close in the customary 30 days or less. Remember that you're not only having to satisfy the seller, but the lender must also agree to the discounted price. Commonly, your offer will go before a committee to approve, which will add time - sometimes even 2 to 3 months.
  • Home protection plans, buyer credits and allowances, and closing cost concessions are usually not up for negotiation when working with a short sale. The lender is selling the property just the way it is which means the lender will not be paying for repairs. Be sure to reserve the right to have inspections for pests, HVAC, electrical, and other critical areas. At FEDEN Healthcare Education Institute, when I write an offer, I am looking out for your interests above all else and will always suggest that you make your offer contingent upon the outcome of the inspections.
When you're ready to buy, whether it's a short sale or a typical home sale, FEDEN Healthcare Education Institute can help you. Use my experience and knowledge of real estate to make sure you are getting a fair deal and protect yourself during the entire process.

FEDEN Healthcare Education Institute

10556 South US Highway 1 (North of PSL Blvd across the Applebees)
Port St Lucie, FL 34952